Melissa buys an iPod for $100 and gets a consumer surplus of $70. a. What is her
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Question:
- Melissa buys an iPod for $100 and gets a consumer surplus of $70.
- a. What is her willingness to pay?
- b. If she had bought the iPod on sale for $80, what would her consumer surplus have been?
- c. If the price of an iPod were $350, what would her consumer surplus have been?
Expert Answer:
Ca Given Consumer surplus 70 Actual price or market price100 Consumer sunplusmaximum price willin... View the full answer
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